The Base ecosystem, Coinbase's Layer 2 network, had a successful month with several tokens experiencing significant gains. AERO stood out with 184,000 holders, surpassing its competitor ALB. However, DEGEN, a memecoin, gained the most attention with an astounding 760,000 addresses. DEGEN's price surged 127% and trading volume increased after it was included on Coinbase's listing roadmap and Base architect Jesse Pollak joined Coinbase's executive team. Despite DEGEN's success, Base's first memecoin, TOSHI, saw a decline in traction. Base's Total Value Locked (TVL) reached $2.189 billion, with daily active addresses at 2.08 million and a total volume of $829.9 million. Pollak's involvement extends beyond DEGEN as he now leads the Coinbase Wallet team, suggesting further integration between the Base ecosystem and Coinbase. The correlation between Base's tokens and Ethereum (ETH) indicates that monitoring ETH trends could provide valuable insights. Stablecoin growth and transaction volume have also shown substantial expansion, contributing to Base's impressive performance and positioning it for continued growth in the future.
- Content Editor ( thenewscrypto.com )
- 2024-10-04
Can Base Sustain Its Growth Amid Increasing Competition?